FUYAO GLASS: 2024 Annual Report

FUYAO GLASS announced its performance report for 2024, with revenue reaching 39.25 billion yuan, an 18.37% year-on-year increase; net profit recorded at 7.5 billion yuan, a significant year-on-year growth of 33.20%; earnings per share at 2.87 yuan, a year-on-year increase of 32.87%. The company's gross margin rose by 1.39 percentage points to 35.53%, and it plans to distribute a final dividend of 1.8 yuan for every 10 shares, totaling a payout of 4.7 billion yuan. The company's financial position is solid, with total assets of 63.26 billion yuan as of the end of the reporting period, and cash and cash equivalents maintained at a sufficient level of 18.73 billion yuan. The unutilized credit lines from banks reached 39.8 billion yuan, indicating sufficient operating capital. Accounts receivable amounted...Show More

FUYAO GLASS announced its performance report for 2024, with revenue reaching 39.25 billion yuan, an 18.37% year-on-year increase; net profit recorded at 7.5 billion yuan, a significant year-on-year growth of 33.20%; earnings per share at 2.87 yuan, a year-on-year increase of 32.87%. The company's gross margin rose by 1.39 percentage points to 35.53%, and it plans to distribute a final dividend of 1.8 yuan for every 10 shares, totaling a payout of 4.7 billion yuan. The company's financial position is solid, with total assets of 63.26 billion yuan as of the end of the reporting period, and cash and cash equivalents maintained at a sufficient level of 18.73 billion yuan. The unutilized credit lines from banks reached 39.8 billion yuan, indicating sufficient operating capital. Accounts receivable amounted to 8.97 billion yuan, with an expected loss rate of only 0.26%, reflecting good quality of accounts receivable. Management stated that the company will continue to focus on technological innovation and global market expansion strategies, and has committed to invest 4.7 billion yuan in fixed asset investments. In terms of risk management, the company primarily faces exchange rate fluctuation risks with the US dollar, euro, and ruble, but through a comprehensive credit risk assessment system and robust liquidity management, operational stability is ensured.